SINGLE-FAMILY RESALES UP SLIGHTLY OVER 2017
Calgary’s resale market recorded two more single-family home sales and a price increase of $700 last month compared to January 2017.
There were new owners for 583 of these homes in January, up from 581 year over year, says the Calgary Real Estate Board. The highest volume of activity came from homes listed between $400,000 to $499,999, accounting for 107 of last month’s sales.
The benchmark price on single-family homes in the city was $499,400 last month, an increase of less than a per cent from $498,700 a year ago, says CREB. Benchmark prices are that of a typical home based on a formula that uses various factors to ensure accurate comparisons.
At the same time, new listings and inventory rose five per cent and 18 per cent, respectively.
When looking at sub-markets within the city, resale in south Calgary led the way. Here are six facts about how zones and communities performed for in the single-family segment last month, writes Josh Skapin.
1. An area CREB defines as south Calgary topped all ends of the city with sales on 113 single-family homes in January. Evergreen, which saw sales dip by 53 per cent year over year, still led all neighbourhoods in the south with nine deals last month.
2. South Calgary’s benchmark price of $471,500 was nearly $28,000 short of the city-wide average. The area’s most substantial price increase came from the neighbourhood of Bonavista Downs, which recorded a seven per cent hike in benchmark price year over year.
3. When it came to sales, a large master-planned community located off Country Hills Boulevard was the leader. Panorama Hills reached 17 single-family sales in January, eclipsing its tally in the same month in 2017 by 113 per cent. The community ’s benchmark price was $541,000.
4. Behind Panorama Hills, 10 other communities reached doubledigit sales last month. Tuscany had 15, followed by McKenzie Towne and Evanston with 14 apiece. Then there were 13 in Cougar Ridge, 12 in Cranston, and Saddle Ridge, Douglasdale, and Copperfield with 11 each, along with Coventry Hills recording 10.
5. West Calgary isn’t only the priciest area in the city to buy a resale single-family home, it posted the strongest year-over-year growth, as well. This end of the city had a benchmark of $727,200 in January, topping the same time in 2017 by four per cent. Its highest-priced neighbourhood last month was Aspen Woods at $977,900. It, too, saw prices increase by four per cent from the same month last year, says CREB.
6. While south Calgary had the highest number of new listings in January, east Calgary carried the pace in year-over-year growth. South Calgary’s 244 new listings marked the only area of the city with more than 200 additions to the market last month. Its communities with the highest volume were Evergreen with 19, 18 in Chaparral, and 15 in Woodbine. The total for south Calgary last month was a two per cent setback from January 2017.
East Calgary led new listings growth with 39 additions to the market, up 18 per cent from last year, says CREB. West Calgary was next with a 17 per cent jump in new listings, followed by 16 per cent growth in north Calgary.